Oil markets calm after Iraq cutoff and Middle East tension
Oil markets steadied after Iraq halted exports for 30 days amid Israel-Palestine fighting. Brent and light crude eased from Monday spikes as analysts expect prices to drift lower. OPEC ministers plan to wait and see. Russia and Mexico eyed production boosts. Bush considered oil reserves and Alaska drilling to shield the economy.
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Hans Redeker
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Barclays Capital
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Paris
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Enron auditor pleads guilty and agrees to cooperate
David B. Duncan, Enron account chief auditor at Arthur Andersen in Houston, is set to plead guilty to one obstruction count and become a cooperating witness. The plea in Houston federal court follows Andersen’s massive shredding during Enron audits, with a grand jury investigating the collapse and related probes by the SEC and Congress.
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Congress
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INS tightens student visas and tourist visits in U S
The INS imposes new restrictions to better track foreign visitors. Students must have an approved visa before courses and tourist visits are capped at 30 days. Extensions will be limited to six months, with some cases returning to home countries for changes.
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Travel Industry Association of America
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Veneman says this week crucial for farm bill talks
Agriculture Secretary Ann Veneman urged lawmakers to push for major changes this week as House and Senate negotiators must decide if they can reach compromises on farm program overhaul. The stalled talks cover subsidies food stamps conservation labeling and meatpacker ownership.
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Postal rate hike set for June 30 plan
The Postal Service will raise first class mail 3 cents to 37 cents on June 30, with each additional ounce costing 23 cents. The move, approved by the board of governors, aims to ease revenue losses from last year and terrorist aftermath while signaling broader operational changes ahead.
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Postal Service Board of Governors
Robert Rider
Postal Service
John Potter
Potter
Congress
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